Registration number:
Sustainable Product Supplies Ltd
for the Year Ended 31 October 2023
Sustainable Product Supplies Ltd
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Sustainable Product Supplies Ltd
Company Information
Director |
Mrs CL Dixon |
Registered office |
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Accountants |
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Sustainable Product Supplies Ltd
Director's Report for the Year Ended 31 October 2023
The director presents his report and the financial statements for the year ended 31 October 2023.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is other building and industrial cleaning activities.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
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Mrs CL Dixon
Director
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Sustainable Product Supplies Ltd
for the Year Ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sustainable Product Supplies Ltd for the year ended 31 October 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Sustainable Product Supplies Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sustainable Product Supplies Ltd and state those matters that we have agreed to state to the Board of Directors of Sustainable Product Supplies Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sustainable Product Supplies Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sustainable Product Supplies Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sustainable Product Supplies Ltd. You consider that Sustainable Product Supplies Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sustainable Product Supplies Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Sustainable Product Supplies Ltd
(Registration number: 08716275)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
842 |
8,456 |
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Shareholders' funds |
942 |
8,556 |
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mrs CL Dixon
Director
Sustainable Product Supplies Ltd
Notes to the Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A- The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Sustainable Product Supplies Ltd
Notes to the Financial Statements for the Year Ended 31 October 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
3yrs straight line |
Plant and machinery |
25% reducing balance |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
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Depreciation expense |
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Sustainable Product Supplies Ltd
Notes to the Financial Statements for the Year Ended 31 October 2023
Tangible assets |
Office equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 November 2022 |
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At 31 October 2023 |
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Depreciation |
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At 1 November 2022 |
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Charge for the year |
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At 31 October 2023 |
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Carrying amount |
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At 31 October 2023 |
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At 31 October 2022 |
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Sustainable Product Supplies Ltd
Notes to the Financial Statements for the Year Ended 31 October 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Sustainable Product Supplies Ltd
Notes to the Financial Statements for the Year Ended 31 October 2023
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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Related party transactions |
During the year the company made advances totalling £13,975 (2022: £17,441) to Mrs CL Dixon. The balance outstanding as at 31 October 2023, which was included within other debtors was £8,502 (2022 : £10,941). Interest is charged 2% per annum and is calculated on a montly basis. Interest of £134 (2022: £201) was charged on the outstanding balance during the year.